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Mounds View City Council August 9, 2010 Regular Meeting Page 2 Mayor Flaherty stated there were a lot of people willing to help and this campaign provided the • resource to pull together the resources. He indicated Council Member Gunn was willing to spearhead the initiative for the City of Mounds View and looked forward to seeing the campaign take off. 7. COUNCIL BUSINESS A. 7:05 p.m. Public Hearing for Select Senior Living Housing Program. Finance Director Beer stated the City Council preliminarily approved moving forward with issuing private activity bonds on behalf of Select Senior Living of Mounds View, LLC to construct a 95 unit senior housing facility. The City must now establish a housing program and hold a public hearing to take comment on this program. There are no approvals needed at this time. Mayor Flaherty opened the public hearing at 7:15 p.m. Hearing no public input, Mayor Flaherty closed the public hearing at 7:15 p.m. Council Member Stigney questioned how the median family income was calculated for the Select Senior Living housing program. Jenny Boulton, Kennedy & Graven, reviewed this was anything considered income in the household and was established by HUD. • Council Member Stigney asked how rent would be collected for those whose income did not meet the qualiiications for efficiency uruts or assisted living. Joel Larson, the developer, stated 20 units would be elderly waiver units to allow for reduced rental rates. Mayor Flaherty indicated the agreement for the private activity bonds would be forth coming between the City and Select Senior Living of Mounds View LLC. He questioned who would monitor these bonds. Ms. Boulton indicated a trustee would monitor the bonds on behalf of the holders and the State does not take a role in the monitoring. Finance Director Beer explained the City would review the information and the monitoring would require minimal staff time. He indicated the Council would receive final approval for issuance of the bonds at a future meeting. B. 7:10 p.m. Public Hearing to Consider a PUD, Development Review and Major Subdivision for the Coventry Senior Living Development at 2320-40 County Highway 10 and 5260 O'Connell Drive. Planning Associate Heller stated that this item is regarding Coventry Senior Living, represented by Greg Johnson. Mr. Johnson has submitted a planning application for a 95-unit senior housing development on three Lots: 2340 County Highway 10 ("The Car Wash") and the two adjacent vacant lots to the southwest. The building would have 18 independent living units, 45 assisted living units, 16 high-acuity units, and 16 memory care units. •